MTN Rumuored To Be Eying Another Indian Cellco

According to local newspaper the Business Standard, South Africa-based wireless company MTN is in talks to buy a stake in Indian cellco Loop Telecom. MTN is reportedly considering acquiring up to a 45% stake in the company.

The African firm has made three previous attempts to enter India – twice failing with Bharti Airtel and once with Reliance Communications. A spokesman for MTN has however denied that formal talks have taken place with Loop.